It is apparently not enough for Luckin Coffee (NASDAQ: LK) to conduct an internal investigation over Chief Operating Officer Jian Liu's inflating of the company's sales figures.

China-based Luckin Coffee is under investigation by the SEC after the company disclosed employees falsified sales throughout last year, The Wall Street … According to CNBC, the investigation found that Luckin’s chief operating officer and several employees had engaged in misconduct, including fabricating sales. China-based Luckin Coffee is under investigation by the SEC after the company disclosed employees falsified sales throughout last year,The Wall Street Journal reported. In an SEC filing on April 2, 2020, Luckin Coffee disclosed that an internal probe found that its chief operating officer fabricated 2019 sales by approximately $310 million. The US Securities and Exchange Commission (SEC) has now placed the Chinese coffee chain operator Luckin Coffee under investigation. It is apparently not enough for Luckin Coffee (NASDAQ: LK) to conduct an internal investigation over Chief Operating Officer Jian Liu's inflating of the company's sales figures. Nasdaq-listed Luckin Coffee said Monday it was cooperating with regulators, following reports of government investigation into the company over recently disclosed financial fraud. It is apparently not enough for Luckin Coffee (NASDAQ:LK) to conduct an internal investigation over Chief Operating Officer Jian Liu's inflating of the company's sales figures. SEC Investigates China’s Luckin Coffee Over Accounting Scandal Probe will be a test of the SEC’s ability to obtain information from abroad (Reuters) - The U.S. Securities and Exchange Commission is investigating Luckin Coffee Inc (LK.O) for fabricating millions of dollars worth … Nasdaq has notified Luckin Coffee on May 15 that it plans to delist its American depositary shares from the market, according to a press release from Luckin on Tuesday. ~~~ References and Further Reading ~~~ https://www.nytimes.com/reuters/2020/04/29/business/29reuters-luckin-investigation.html

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